Palladium rebounds after 2 days of dropping

Palladium prices rallied during the day, resuming gains after a noticeable drop in the past two sessions.

Overall, by 13:54 GMT, palladium and metals rallied today supported by the fall of the dollar index (against a number of major currencies) by 0.1% to 97.1 points, with its highest at 97.3 points and the lowest at 97 points.

Anglo American, the world's largest producer of palladium, officials have made negative comments about palladium, saying the standard jumps may be a sign for a price bubble.

However, the company's analysts say palladium prices will continue to stay near highs for a period of time before retreating.

In addition, palladium is receiving more purchases from global automakers seeking to use components that reduce carbon emissions from manufactured vehicles.

In terms of trading,  by 14:00 GMT, palladium futures (June delivery) rose by 3.4% to $1354.8 an ounce, the highest at $1369 and the lowest at $1308.